Flipper Leaves Florida
Flipper Leaves Florida
No it’s not the dolphin, it’s the property flippers, those investors hoping to turn a quick profit on the buying and turn around sale of real estate. Speculators in the past often realized huge profits in a very short time during the hot market 12-18 months ago. The stabilization of the current real estate market in Southwest Florida is not good water for those hoping to cash in on a quick profit. It is however a great time for those people buying for the right reason. If you plan on holding your investment 3-5 years, real estate remains one of your best investment opportunities. With the current inventory levels there is a huge pool of homes and buyers are in a great position at the bargaining table. As these inventories are reduced the ability to negotiate also is reduced. Housing like most everything else is a supply and demand market. Interest rates remain low and Florida because of its weather has an edge in the national housing market. Many of the “Baby boomers” that are planning to retire in the next decade will seek the warm weather as their retirement home. Some will be downsizing and maintaining a summer home in the North and winter home in Florida. Over the past four years we have seen the start of the flood of these retirees start to arrive. This migration will help to maintain a steady but reasonable appreciation in the housing market. Although the real estate market is no longer a good place for the property flipper, it is at a peak for the home buyer.